Report to the Community 2008-2009 Community Foundation For
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Community Foundation for Monterey County 2 0 0 8 - 2 0 0 9 Report to the Community Our Mission Serving the Community We improve the quality of Since 1945 life in Monterey County INSIDE by raising, managing, and distributing 2008-2009 Highlights 1 charitable funds Our History: Over 64 years of Community Service 2 to qualified organizations New Funds 3 and by creating Donor Advised Funds: Powerful Partners in positive connections Building Community 4 between donors Special Programs and Initiatives 6 and their interests. Awards and Honorees 10 Recent Grant Highlights 12 2008 Donors 14 2008 Financial Summary 20 2008-2009 Board of Directors and Staff 22 2008-2009 Board and Advisory Committees 24 In Memoriam 25 QUICK FACTS ABOUT 2008 The total return on the Foundation’s investments was -27.7%, which was significantly better than the Dow Jones, NASDAQ, and S&P 500. Total assets decreased by 28.7% to $102.5 million — BUT the Foundation received $5.1 million in new contributions, AND a total of $7.2 million www.cfmco.org in grants was awarded to nearly 300 agencies. Operating expenses for all programs combined were 1.9% of total assets. Cover photo by Kirk Kennedy, VectorPoint 2008-2009 Highlights These Are Tough Times—But We Are “Here For Good” he Community Foundation’s motto, “Here for Good,” is particularly meaningful in these difficult times. Very few of us can remember a period when the confluence of bad economic news was so international, so profound, or so hurtful to so many people. Add to that the unfortunate fact that the Tneed for charitable giving has greatly increased at just the time when individual, corporate, and foundation giving are trending downward. So what has the Community Foundation done in response to these challenges? First, we have focused our grants from unrestricted funds much more on the safety net agencies meeting basic human needs such as food, housing, counseling, and family support services. Second, we have actively encouraged our donor advisors to increase the giving from their funds and to pay special heed to the social and community service agencies and to the arts organizations that play such a key role in the cultural life of our community. Third, we have consulted with our colleagues at other foundations and public agencies such as the Department of Social and Todd Lueders, Richard Borda, David Armanasco Employment Services to learn where the greatest needs are in the social fabric of our community. Finally, we have held a much higher than normal amount of cash in the Foundation’s investments for more than a year, and that has turned out to be very prudent. The past year has still been rewarding on many levels, including the addition of new donor advised funds, a new agency fund from the Del Monte Forest Foundation, and a major bequest from the estate of Rudy E. Futer that will provide new resources for the kinds of social service and animal welfare agencies that he supported during his lifetime. The Foundation also renewed our partnership with the Grover Hermann Foundation and forged new multi-year partnerships with four of our statewide private foundation partners – the David and Lucile Packard Foundation, the James Irvine Foundation, the William and Flora Hewlett Foundation, and The California Endowment. A number of local funders have also added important support for our Literacy Campaign, which last year helped nearly 1,300 adults increase their reading skills, and for our Neighborhood Grants Program and emergency funding. The Foundation will soon experience several changes in its executive leadership, with the retirement of Judy Sulsona, our Executive Vice President, in September, 2009 and the retirement of President/CEO Todd Lueders in May, 2010. We are proud to welcome Julie Kenny Drezner as our new Vice President of Community Engagement to replace Judy Sulsona, and the Board of Directors and their Executive Search Committee are working closely with an executive search firm on a national search to find a new President/CEO, a process which will be completed in early 2010. This Report to the Community is our most public way to thank our generous donors, acknowledge the great work of our grantees, and assure the community that the Foundation will be here, in good times and tough times, to preserve and improve the quality of life in the communities we serve. Todd Lueders Richard Borda David Armanasco President/CEO 2009 Chair of the Board of Directors 2008 Chair of the Board of Directors Community Foundation for Monterey County 1 Our History Over 64 years of Community Service ike the proverbial cat with multiple lives, the Community Foundation has taken three entirely different forms since it was established in 1945. Just before the end of World War II, a group of community leaders such as Col. Allen Griffin and S.F.B. Morse became concerned about the increasing Lpressure to “develop” Monterey at the expense of some of the city’s historic adobes. They formed the “Monterey Foundation” in order to purchase notable adobes such as the Fremont Adobe, Casa Gutierrez, and Casa Abrego. The properties were then donated to preservation groups such as the Monterey History and Art Association or the State Parks Historic District to preserve them for the enjoyment of the public – and Monterey thus became, and still is, the most historic city in California. The Foundation’s second incarnation dates from the mid-1970s, when the focus changed to open space preservation on the Monterey Peninsula. On a project-by-project basis, the Foundation raised funds to acquire important open space in areas such as Pebble Beach (the Indian Village and Navajo tracts, the S.F.B. Morse Cypress Grove, and Pescadero Point) and Monterey (the First Theatre garden and the top portion of Jacks Peak Park). Once again, the goal was to save these properties for future generations, and eventually they were all donated to preservation groups such as the Del Monte Forest Foundation and others. The catalyst for the third stage in the Foundation’s life cycle was a commitment by the Board of Directors in 1981 to hire full-time staff and begin the process of building permanent endowments to benefit the full range of community needs. By 1984, the endowment had grown to $1 million, and the Foundation became the “Community Foundation for Monterey County” to reflect its county-wide service area. Since that year, the Foundation has dedicated about half of its competitive grants to agencies that serve either the entire county or primarily the Salinas Valley. As of the end of 2008, the Foundation had total assets of $102.5 million, and was able to award over $7 million to nearly 300 agencies throughout the Central Coast. The Community Foundation is now the largest grant making foundation of any kind between San Jose and Santa Barbara. It is now large enough to provide a unique range of ongoing special programs that supplement the grants from our own resources, such as the Management Assistance and the Neighborhood Grants Programs. Multi-year initiatives such as the Poder Popular para la Salud del Pueblo Program and the Building Healthy Communities Initiative (funded by The California Endowment), Communities Advancing the Arts (funded by the James Irvine Foundation), the Leadership Education and Development Institute (funded by the David and Lucile Packard Foundation), and the Community Leadership Project (funded by the James Irvine, William and Flora Hewlett, and David and Lucile Packard Foundations), are all made possible because of the Foundation’s in-depth knowledge of local needs. The Foundation’s role as a “catalytic convener” is probably best illustrated by the lead funding and core staffing for our Literacy Campaign. 2009-2010: A Year of Transitions With the retirement of Executive Vice President Judy Sulsona in September of this year and of President/CEO Todd Lueders in May, 2010, the Community Foundation will soon be charting its future with new staff leadership. Thanks to the support that the Foundation has enjoyed from its donors and our professional partners for nearly 65 years, we are proud of our past and remain confident in our future. 2 2 0 0 8 – 2 0 0 9 Report to the Community charitable giving NewRECEIVED fromFunds JULY 1, 2008 to JUNE 30, 2009 NEW Donor Advised Funds passion The Tom and Mary Kay Gallagher Fund was established by a grant from the Tom and Mary Gallagher Foundation to create a base for their charitable giving in Monterey County. Tom Gallagher is the CEO of a real estate and hospitality management firm in Nevada and a retired Fortune 500 CEO. His background includes management of the Griffin Group, the hotel, media, and resort permanent operations of the late entrepreneur and entertainer Merv Griffin, who owned a ranch in Carmel Valley that the Gallaghers recently fund purchased. The Gallaghers’ charitable interests have included education, the environment, and health care. When well-known preservation advocate Marcia Frisbee DeVoe passed away in December 2008, she left the bulk of her estate to the Community Foundation to establish a new permanent donor advised fund, the Marcia F. DeVoe Fund. She also named her close special friend and neighbor, Melissa Eason, as the fund’s advisor, and she stipulated that at least 50% of the fund’s grants each year should interest be made to Monterey County agencies serving children in need. Marcia DeVoe was an elementary school teacher for 40 years and a passionate student of Monterey’s colorful history. The William and Susanne Tyler Fund is a new donor advised fund established by the Tylers to help focus their local giving on several areas of special interest, including the arts and health care.